PPC

Eight arrested in connection with PPC equipment thefts

Police on Friday arrested eight people aged between 19 and 38 and are looking for another two in connection with the theft of large quantities of pole-mounted transformers and power cables belonging to the Public Power Corporation (PPC) from fields in the wider area of Karditsa in northern Greece.

Greece's power utility shrinks first-half loss on lower provisions

Greece's Public Power Corp. (PPC) on Tuesday reported a smaller first-half loss on the back of lower provisions for bad debt.

The electricity utility's loss before taxes fell to 26.9 million euros in the January-to-June period from a loss of 249.5 million euros a year earlier.

CEO confirms PPC will cut expenses

Public Power Corporation chief executive Manolis Panagiotakis referred on Thursday to the prospect of a considerable reduction in the utility's operating costs as well as extensive changes in its organization and function after the completion of its new business plan currently being drafted by consultant McKinsey & Company.

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